The following has been taken from (WEM, 2009, p31)

”Twelve concepts Every Young Person Should Learn About Business Before Graduating High School.

1. The importance of mental and physical health
2. The joy of business and opportunity  recognition
3. The economics of one unit
4. The laws of supply and demand
5. Don’t compete, CREATE a comparative advantage
6. Wealth creation
7. Marketing: putting yourself in the customer’s shoes
8. Leadership and giving back
9. Financial statements (ROI and breaking even)
10. The basic sales call
11. How to write a business plan
12. The rule of 72”

 (Educating the next Wave of Entrepreneurs, World Economic Forum, April, 2009, p31)

If you haven’t read, or at least seen the report I would strongly advise that you do. It is lengthy, so I am not suggesting that you read it from cover to cover, I do think that educators should be aware if the mains points though.

In the following weeks i am going to ‘unpack’ each of these and discuss the implications that they have for increasing a young person’s financial literacy.